Let's allow PBAT to do the needful, all what you are saying is already known to the FG, the FG understand more than your thoughts but they want to make education much more sustainable to the poor in the society so that the issue of insecurities would be reduced if not totally curbed. All these less privileged people will be able to attain education so that they would not lout and hooligans in the society. PBAT is trying to turn our educational system to the western world educational system in the sense that either you have money or you don't have money , you will have access to education. They already know that not everyone would be able to pay back the loans. So let's embrace it, it is a good idea.

budaatum:


You are very well welcome to your opinion.

Mine is that more people will be able to go to university to purchase an education that will empower more to "take certain steps" to "create more jobs" for themselves and you need not bother taking the loan if you do not need it.

I'm Sorry if I sounded harsh with this I'm sorry to say but everything you wrote here is complete rubbish since you highlighted it.

Brendaniel:


I'm Sorry if I sounded harsh with this... .

You are very free and entitled to your opinion, and need not apologise for it.

Brendaniel:


Let me just tell you the truth, with corruption involved, it might be highly counter productive, NDDC is a case study, might make people poorer and commit suicide, there are so many things I want to say about this student loan but I will choose to reserve my comment for now, I wanted to open a thread which I might still open later on to address it because the student loan might end up becoming almost as useless as the P in psychology, I just pray it doesn't....

I wrote about the cassava loan and corruption and will tag it on below so you can read it yourself. Student loan might indeed be counter productive or useless, but the education received by those who need it and will take it would be priceless, and will continue to reward long after they pay the loan back or don't pay it back.

We are not the first to introduce student loan, and if you take it and decide suicide is the way to go then perhaps you shouldn't have taken it instead of, because of your own error, assuming every one is error prone.

budaatum:
Many people got agriculture loans and never paid back.

We were once asked to form a co-op for cassava loans. Lots of people joined only for me to discover those running it were not even farmers, and were padding it with us who were to give them credibility. I later found out this was cassava loan 2.0. First time they did it lots of people ran away from town because they could not pay it back having never had land nor planted cassava.

Personally, I don't understand how people expect a savvy Tinubu (you have to be savvy to have had to forfeit in America what it's claimed he forfeited), not to put hoops in place so he gets our money back plus profit.

To impact people, those who took loans must pay it back.

budaatum:


I wrote about the cassava loan and corruption and will tag it on below so you can read it yourself. Student loan might indeed be counter productive or useless, but the education received by those who need it and will take it would be priceless, and will continue to reward long after they pay the loan back or don't pay it back.

We are not the first to introduce student loan, and if you take it and decide suicide is the way to go then perhaps you shouldn't have taken it instead of, because of your own error, assuming every one is error prone.

budaatum I hope you really understand me, I am not faulting the Idea of student loan, it is a very good idea but at the stage Nigeria is right now, it is not what the government should be focusing on in order of priority because the other programs such like this such as NESRA and so on they have done before now have all failed to achieve their goals because of corruption, why add more when you haven't solved what is making the previous ones fail, you hear of billions, these days even trillions that went down the drain, looted or wasted in the same programs designed to help the people.

The government will have to prove itself by making the existing ones work before I believe a new program is going to work, this is like giving a worker more responsibility to handle when he has clearly failed in the previous ones.

The suicide issue is not just generalization, but if you look at the rate of people committing suicide because of loans in Nigeria, the student loan is a good idea but the government should ensure that things are put in place to make it easy for beneficiaries to pay back, look at the unemployment rate in the country, look at the ease of doing business and business challenges, and all these cannot be achieved if there is corruption in the system, because it is corruption that brought the country to this level.

Or do you think all the people who committed suicide never planned or worked seriously on paying back their loans?

Brendaniel:

budaatum I hope you really understand me, I am not faulting the Idea of student loan, it is a very good idea but at the stage Nigeria is right now, it is not what the government should be focusing on in order of priority ....

Brendaniel, student loan is obviously a priority of this government at the stage Nigeria is right now, as it's one of the things they've introduced very early, and I happen to agree with them, though I would place scrapping NYSC at the same priority level if it were up to me. An alternative to student loan is an increase in taxation so they have enough money to invest more in schools, which I'm sure you'd agree is needed, but I very much doubt I'd prefer more tax since it is equally, if not more so, subject to diversion and corruption.

No one knows how student loan would work out in the end if we want to be honest with each other, so why not give it time and a chance to see how it actually works before we shoot it down with our opinions and thoughts that are not based on any facts or data, is what I think and as I earlier said and have attached below.

As to whether I understand you or not, I'm very certain you can tell for yourself if I do or don't, since I am opposing what you are saying according to my own understanding. There's after all a difference between not understanding and not agreeing with you.

budaatum:
You will find they'll find a way of making you pay it back long after you stop being a student since Tinubu nor the loan givers are not into the sort of charity you are thinking of.

Even the part about interest free will turn out to be untrue as you'd find that the fees that cost so much now will more than double or triple to compensate so you end up owing lots.

You can japa afterwards of course, making it harder for them to make you pay, but I wouldn't be surprised if the loan is tied to your passport so you can't get one if you owe, or to your parents who'll have to pay it back if you don't. They can also make it a requirement of future employment like they do with NYSC, such that if you don't serve or don't pay back your loan you are disqualified for employment.

We shall find out in the future of course, so I'll make a note of this thread in my diary for 5 and 10 years time to reassess how it's gone.

Next thing he has to do is scrap NYSC so I can earn what I deserve instead of subsidising my employer by making my labour cheap for them while getting the skills and knowledge gets more expensive for me.

budaatum:


Brendaniel, student loan is obviously a priority of this government at the stage Nigeria is right now, as it's one of the things they've introduced very early, and I happen to agree with them, though I would place scrapping NYSC at the same priority level if it were up to me. An alternative to student loan is an increase in taxation so they have enough money to invest more in schools, which I'm sure you'd agree is needed, but I very much doubt I'd prefer more tax since it is equally, if not more so, subject to diversion and corruption.

No one knows how student loan would work out in the end if we want to be honest with each other, so why not give it time and a chance to see how it actually works before we shoot it down with our opinions and thoughts that are not based on any facts or data, is what I think and as I earlier said and have attached below.

As to whether I understand you or not, I'm very certain you can tell for yourself if I do or don't, since I am opposing what you are saying according to my own understanding. There's after all a difference between not understanding and not agreeing with you.

budaatum, what you have said here is good and I am not against the student loan but I do not trust the present government to see it through for the benefit of Nigerian students, because of corruption, if I have seen them already tackling corruption I may have had some hope in it that it will work but I don't see any difference yet from Buhari's style and Tinubu's style of handling corruption.

I hate starting what I hate to finish and that is what Tinubu is doing....

Brendaniel:


budaatum, what you have said here is good and I am not against the student loan but I do not trust the present government to see it through for the benefit of Nigerian students, because of corruption, if I have seen them already tackling corruption I may have had some hope in it that it will work but I don't see any difference yet from Buhari's style and Tinubu's style of handling corruption.

I hate starting what I hate to finish and that is what Tinubu is doing....

Brendaniel, though I am Yoruba, I am a chronic Obidient, and can't support APC Jaguda, especially because the lack of change of the party governing has deprived us from probing my bubu to see if he was anticorrupt or corrupt, and that's besides bullion van, and Aregbe taking my people's salary in Osun State to him in Lagos, but that doesn't stop me measuring a thing on its merit

Earlier, you said, "fighting corruption it is not what EFCC is doing chasing yahoo boys up and down, they should start from themselves and people around them", and I am afraid to tell you that I disagree, since I don't expect nor trust any politician to "start (fighting corruption) from themselves and people around them". I mean, see Boris, and America's dump, and tell me a reasonable rational person would expect Jaguda to be any better and more honest and less corrupt and I will show how high my pigs fly.

For me, fighting corruption starts with my very own self, by me not participating in corruptuon to begin with by not paying bribes or not cheating nor stealing, because, as is said, I should remove corruption in my own eyes before I start attempting to remove corruption from the eyes of others, and since there's no greater corruption than a corruption of gained knowledge, which is what one gets with an ill-funded education system, this fight has begun where I want it to.

Smarter better educated individuals are more likely to ensure a more correct and proper path is trodden than would those who received a corrupt substandard education, is what I think. But if we can't be bothered to educate ourselves out of corruptuon, then we should accept the substandard corrupt education we bought with money we received as a loan because years of paying back the loan we bought it with is our just desert for being ignorant and is bound to force us to learn.

As to finishing, let us at least start and see how far we get since perfection is the friend of doing nothing.

budaatum:


Brendaniel, though I am Yoruba, I am a chronic Obidient, and can't support APC Jaguda, especially because the lack of change of the party governing has deprived us from probing my bubu to see if he was anticorrupt or corrupt, and that's besides bullion van, and Aregbe taking my people's salary in Osun State to him in Lagos, but that doesn't stop me measuring a thing on its merit

Earlier, you said, "fighting corruption it is not what EFCC is doing chasing yahoo boys up and down, they should start from themselves and people around them", and I am afraid to tell you that I disagree, since I don't expect nor trust any politician to "start (fighting corruption) from themselves and people around them". I mean, see Boris, and America's dump, and tell me a reasonable rational person would expect Jaguda to be any better and more honest and less corrupt and I will show how high my pigs fly.

For me, fighting corruption starts with my very own self, by me not participating in corruptuon to begin with by not paying bribes or not cheating nor stealing, because, as is said, I should remove corruption in my own eyes before I start attempting to remove corruption from the eyes of others, and since there's no greater corruption than a corruption of gained knowledge, which is what one gets with an ill-funded education system, this fight has begun where I want it to.

Smarter better educated individuals are more likely to ensure a more correct and proper path is trodden than would those who received a corrupt substandard education, is what I think. But if we can't be bothered to educate ourselves out of corruptuon, then we should accept the substandard corrupt education we bought with money we received as a loan because years of paying back the loan we bought it with is our just desert for being ignorant and is bound to force us to learn.

As to finishing, let us at least start and see how far we get since perfection is the friend of doing nothing.

I kinda understand the angle you are viewing it from with your explanation, for me I'm just tired of the government not being sincere, I just want to see some atom of sincerity, with the experience of the last administration I don't believe anything from APC anymore, I supported Buhari in 2015 and felt Tinubu was a sincere person with all the promises he made for Buhari and APC which all turned out to be lies. Even all the programs from school feeding to NPOWER and so on all turned out be failed projects used to enrich some people.

Brendaniel:

I kinda understand the angle you are viewing it from with your explanation, for me I'm just tired of the government not being sincere, I just want to see some atom of sincerity, with the experience of the last administration I don't believe anything from APC anymore, I supported Buhari in 2015 and felt Tinubu was a sincere person with all the promises he made for Buhari and APC which all turned out to be lies. Even all the programs from school feeding to NPOWER and so on all turned out be failed projects used to enrich some people.

I do not expect politicians to be sincere and nor am I tired, despite having followed Nigerian politicians all the way back to Ironsi and Baron Wilson of Rievaulx in UK, and that apart from numerous ones I've studied through history.

What the people want, like "school feeding to NPOWER" that come cheap or free, are undeliverable because the people would not be willing to pay the tax that would enable it to be delivered, so politicians would always tell lies of delivering what they know they can't.

Student loan is however different, as the money will ultimately come from those who receive it, and I am certain the government will do all it can to collect, if just because if they don't they would not be able to take their cut.

Their lie about it is that it would be interest free, because after non-payback and corruption losses due to death and inflation that will make what is borrow worth a lot less than is paid back, they will decide they need to charge interest to cover expenses, we will soon find.

Let them charge us what things are actually worth by removing all subsidies, I say, then we can charge for our labour what it is worth, because I can't get my head around paying a teacher ₦30-40k when the going rate in UK for the same teacher is £30,000+.

We should stop allowing them to steal our labour, and pay us the right wage for it, is what I think, and having to pay back for the education we bought with the loan they give us would incentivive us to demand that proper wage.

budaatum:


I do not expect politicians to be sincere and nor am I tired, despite having followed Nigerian politicians all the way back to Ironsi and Baron Wilson of Rievaulx in UK, and that apart from numerous ones I've studied through history.

What the people want, like "school feeding to NPOWER" that come cheap or free, are undeliverable because the people would not be willing to pay the tax that would enable it to be delivered, so politicians would always tell lies of delivering what they know they can't.

Student loan is however different, as the money will ultimately come from those who receive it, and I am certain the government will do all it can to collect, if just because if they don't they would not be able to take their cut.

Their lie about it is that it would be interest free, because after non-payback and corruption losses due to death and inflation that will make what is borrow worth a lot less than is paid back, they will decide they need to charge interest to cover expenses, we will soon find.

Let them charge us what things are actually worth by removing all subsidies, I say, then we can charge for our labour what it is worth, because I can't get my head around paying a teacher ₦30-40k when the going rate in UK for the same teacher is £30,000+.

We should stop allowing them to steal our labour, and pay us the right wage for it, is what I think, and having to pay back for the education we bought with the loan they give us would incentivive us to demand that proper wage.

I understand your point but I don't just trust APC anymore, neither do I trust PDP, I will even believe any other party aside from these 2, I know most politicians and political parties might not be completely sincere but there are levels to it, PDP is still more sincere than APC, APC is the most insincere party I have seen in my entire life..

Brendaniel:


I understand your point but I don't just trust APC anymore, neither do I trust PDP, I will even believe any other party aside from these 2, I know most politicians and political parties might not be completely sincere but there are levels to it, PDP is still more sincere than APC, APC is the most insincere party I have seen in my entire life..

I don't trust any politician, not even Obi whom I campaigned for! And to claim PDP was better than APC would require me to forget that during PDP our money was carried away in ghanamustgoes and hidden in soakaways, which I can't quite recall happening under bubu, no doubt because there wasn't much money left over to steal.

Politicians are, on the whole, in post for their own selfish good and not mine, and my only hope is that their greed and desire to win the next election would at least force them to rule relatively well or we shall democratically get rid of them and replace them with someone else which we could not do under the numerous years of military rule, and eventually, we would, or rather, might get someone who is more sincere than most for a while, I hope.

Merry100:

I am not against the student loan. The things I listed are very easy for government to do. If they add it to their projects it will life easier for everyone. If there is enough jobs, students can work part-time to pay back their loans. Sometimes, it is good for us to let our opinions out. Somebody close to the president might see this and take one or two things from it and advice the president to implement it.

Even those who will get jobs and can afford to repay the loans will not want to pay.

Nigerians are very terrible people when it comes to matters regarding loan repayment

chatinent:
Actually, a lot of student can and will repay the loans.

The government themselves know. Of all agriculture loans, trader moni and all, how many were paid back ?

But at least hopeless people will go to school, touts will reduce.

Brendaniel:


budaatum, what you have said here is good and I am not against the student loan but I do not trust the present government to see it through for the benefit of Nigerian students, because of corruption, if I have seen them already tackling corruption I may have had some hope in it that it will work but I don't see any difference yet from Buhari's style and Tinubu's style of handling corruption.

I hate starting what I hate to finish and that is what Tinubu is doing....

There is very little Tinubu can do to to make the loan program succeed.

His responsibility as the president is approve the policy, he is not the one to personally implement it (This is where the main problem lies)

When the program starts they will start selling the slots to the highest bidders, some of the officers will start asking for kickbacks or commissions before processing applications of student loan applicants etc. Nigeria is a very corrupt country

On their own part the student loan seekers will start submitting fake and contact information and forged documents, people will start faking their own deaths, all because they don't want to repay the loan

They should also insert a clause that can make them collect their certificate from the institution only when they have job offer.

MrFollowFollow:


There is very little Tinubu can do to to make the loan program succeed.

His responsibility as the president is approve the policy, he is not the one to personally implement it (This is where the main problem lies)

When the program starts they will start selling the slots to the highest bidders, some of the officers will start asking for kickbacks or commissions before processing applications of student loan applicants etc. Nigeria is a very corrupt country

On their own part the student loan seekers will start submitting fake and contact information and forged documents, people will start faking their own deaths, all because they don't want to repay the loan

Then why is he the president?

Merry100:

In less than two years you will understand what I wrote. If nothing is done to reduce the rate of unemployment, the student loan project will not survive.

You wrote rubbish. Everything is step by step. The floating of the currency will see more companies back to business. More policies are still coming. Everything is step by step. Relax or just shut up

Majesty7:


You wrote rubbish. Everything is step by step. The floating of the currency will see more companies back to business. More policies are still coming. Everything is step by step. Relax or just shut up

See this peppered rat o. This one has gone off point. What do you know we are talking about? Your type can never read and comprehend, yet your hands are always itching you to comment.

MAKE IT A GRANT. THEY DESERVE GRANT.

Merry100:

See this peppered rat o. This one has gone off point. What do you know what we are talking about? Your type can never read and comprehend, yet your hands are always itching you to comment.

Deluded soul. Things are done step by step. The loan is a very good development. The government that did the student loan and also made the FX flexible (I know that got your empty skull confused). These are policies coupled with the ones that will still be put in place that will make business easy thereby creating many job opportunities.

You want many job openings and I am telling you that this is the right step to take. Many things will fall into place and many job openings will start springing up.

I am old enough to give birth to your father; you uncultured kid

Majesty7:


Deluded soul. Things are done step by step. The loan is a very good development. The government that did the student loan and also made the FX flexible (I know that got your empty skull confused). These are policies coupled with the ones that will still be put in place that will make business easy thereby creating many job opportunities.

You want many job openings and I am telling you that this is the right step to take. Many things will fall into place and many job openings will start springing up.

I am old enough to give birth to your father; you uncultured kid

🤣 70 years old man. Pele o ancestor.